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Three weeks ago, I tipped Entain - largely the old Ladbrokes business - to be a buy on the basis of a rerating over the American sports betting business.
Today, there's an announcement of a bid approach from MGM. Not quite what I expected but based upon the same idea - the value of that American sports betting business.
What matters now is what to do next? For MGM isn't going to get the business at this price.